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Bank of Ghana Governor Urges Parliament to Pass Revenue Bills for Economic Stability and Growth

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BNN Correspondents
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In a press release dated Monday, March 27, 2023, Dr Ernest Addison, the Governor of the Bank of Ghana, emphasized the importance of Parliament passing three revenue bills currently before the House. Dr Addison stressed that the passage of these revenue bills is necessary to guarantee ongoing efforts aimed at restoring economic stability and growth in Ghana.

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The Governor made this call during the 111th meeting of the Monetary Policy Committee (MPC). During the meeting, recent macroeconomic developments were discussed and the current state of the economy was assessed, including risks to inflation and growth outlook.

Passing the three revenue bills will fulfill the prior actions agreed upon in the Staff-Level agreement, which is essential for Ghana's $3 billion program to the IMF Executive Board. The successful execution of this program is crucial to support Ghana's economy and address its current economic difficulties.

The three revenue bills are expected to generate around GH¢4 billion annually, and their passing is in line with the agreed fiscal policy set for 2023. The policy consolidates Ghana's commitment to the Staff Level agreement with the IMF, reached in December 2022.

It is crucial that Parliament prioritizes passing these revenue bills, as this will support the country's economic stability and growth. Ghana's success in its $3 billion IMF Executive Board program depends on it.

Economic Stability Bank Of Ghana Revenue Bills Ghana IMF Program
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